Venus is building a Decentralized Finance (DeFi) money market platform on Binance Smart Chain to enable digital asset lending and generation of synthetic stablecoins backed by a basket of various BEP-20 assets.
The project aims to support three core features:
Over-collateralized lending where users can borrow assets whose value is 75% or lower than that of the assets supplied.
Earn interest by supplying supported collateral assets to the protocol.
The ability to mint VAI, the protocol's default synthetic stablecoin pegged to the value of 1 USD.
The XVS token is the native BEP-20 governance token of the platform and is primarily used for voting in governance decisions such as product improvements, integration of new collateral, changes in platform parameters, etc.
According to the initial platform setting, 79% of the total XVS token supply will be allocated for Ecosystem Mining and be distributed as follows:
35% to the Lending Pool, or to users who receive interest by depositing assets for others to borrow.
35% to the Borrowing Pool, or to users who borrow assets and pay interest to the platform.
30% to the Stablecoin Pool, or to users who mint VAI on the platform.
Key metrics (as at September 28th 2020)
Binance Launchpool Start Date
September 29th 2020
Binance Launchpool Allocation
6,000,000 XVS (20.00%)
Initial Circ. Supply (Upon Listing)
3,700,000 XVS (13.00%)
Total Token Supply
1. What is Venus (XVS)?
Venus is building an algorithmic money market protocol that is exclusively on Binance Smart Chain to enable lending and borrowing of assets, as well as generation of synthetic stablecoins.
The collateral provided to Venus will be represented by vTokens (such as vBTC) which will enable users to redeem the underlying collateral as well as to borrow against it. Interest rates in the protocol are based on the utilization of a specific market with a yield curve to determine the final rates.
The protocol will also enable the minting of VAI, which is the first synthetic stablecoin on Venus that aims to be pegged to 1 USD. VAI is minted by the same collateral that is supplied to the protocol. Users can borrow up to 50% of the remaining collateral value they have on the protocol from their vTokens to mint VAI.
Venus is governed by its native token XVS, which allows holders to participate in voting on various platform initiatives such as adding new collateral, changing parameters, initiating product improvements, and more.
2. Economics and supply
2.1 Token sale data
The development of Venus is fully backed by the Swipe project team and has not conducted any token sale as of the time of writing.
2.2 Token allocation
20.00% of the total token supply
Binance Smart Chain Ecosystem
1.00% of the total token supply
79.00% of the total token supply
XVS token allocation
XVS token release schedule
3. Venus community overview
Venus will initially focus on community building utilizing its social and presence from the Swipe team in Asia, Europe, and North America, and will gradually expand to other regions as the project grows.
Current community growth strategies of Venus include:
Conducting AMAs with other Binance Smart Chain projects.
Regularly publishing content and news related to the DeFi money market.
Hosting and participating in DeFi and blockchain conferences, workshops, and meetups.
Partnering with existing Binance Smart Chain protocols.
Publishing weekly updates in Medium.
Actively communicating with the public via social channels.
Future community growth strategies of Venus include:
Creating Governance pools.
Launching campaigns surrounding liquidity incentives.
Adding new collateral to encourage more communities to participate in the protocol.